Patagonia Founder Gives Company Away to Environmental Trusts
SnopesJUL 2022
Patagonia Founder Donates Company to Fight Climate Change
Image copyright: Getty Images [via Daily Mail]
The Spin
Narrative B
This is the clearest proof yet that Yvon Chouinard is a leader in the movement away from shareholder capitalism and toward stakeholder capitalism. In a world infected with inequality and environmental destruction, Patagonia has chosen to put the Earth and its inhabitants above profit.
Narrative A
While Chouinard's decision to break away from the age-old shareholder motto is a bold move with noble motives to help the planet, it's too soon to celebrate. Without a financial incentive to keep on track, it remains to be seen whether this strategy will succeed.
